EV financier Chargeup raises $7-M led by Capital-A, Anicut Capital
Delhi-based fintech firm Chargeup has raised USD 7 million (about INR 57 crore) in a funding round led by Capital-A and Anicut Capital. Angel investors, including Ekta Kapoor, Sunil Kalra and Sachin Mehra, also participated in the funding round. The company has also received debt funding from the investment platform Jiraaf. Chargeup helps drivers by reducing their cost of ownership by providing financing and Battery-as-a-Service offerings. Chargeup claims that it has enabled over 2,000 drivers to cover more than 10 million kilometres of emission-free commute. The company currently operates over 200 swap stations in Delhi NCR and clocks 1 lakh swaps per month. The firm has also entered into partnerships with OEMs and e-com companies to reduce their cost of delivery. The funds will be used for expanding the services to 20 new cities and power over 50,000 drivers. The company will also strengthen its tech platform.
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